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By implementing these five steps into your marketing strategy, you will be taking an active step to growing your business and attracting new customers.
1. Piggyback Advertising
Piggyback advertising is simply the act of including some promotional literature regarding your business in any sales order that leaves your place of business. Hopefully, your customer will be satisfied enough to pass your information onto someone else who may be interested in what you have to offer.
Some promotional material could include a new product announcement, sales flyer, or quarterly newsletter. Keeping your customers informed will keep them loyal to you.
2. First Time Order Discount
Some consumers may be hesitant to try something new or to switch from their current supplier - a small incentive can go a long way. Consider offering new customers a special discount or free gift to lure them into trying your product or service.
Everyone loves a freebie so make your incentive gift something that will be of interest to your customers.
3. Referral Incentive
Rewarding your present customers for referring your business to their friends and relatives is an effective strategy to build your business. Many successful businesses have been built on referrals alone.
Consider rewarding your preferred customers with a special discount or cash incentive finder’s fee for any new customer that they refer to you.
4. Repeat Order Incentive
For customers that regularly use your products or services, a repeat order incentive is recommended to keep these customers loyal and calling you with their business. An effective repeat order incentive could include free product after a set amount of purchases, bonus bucks, free movie tickets, gift certificate, or cash discount.
Everyone loves a freebie and what better way to say ‘thank you!”
5. Preferred Customer Discount
A preferred customer discount is reserved for those customers whose loyalty never strays and continues to do business with you year after year. A premium incentive could include a product discount, gift certificates for dinner, shows, or freebies.
Bryan Kennedy, COO and president of Epsilon (the group that runs the very successful Hilton Honors Loyalty Program), knows first-hand that longtime customers help businesses get through tough times. Here’s what he had to say in a recent Advertising Age article,
“We have a belief that when the economic times get tough, loyalty and retention marketing becomes one of the most measurable disciplines from an ROI perspective.”
More Innovative Ideas
Once your customer has contacted your business, it is to your advantage to plug your product or service at every opportunity. Consider these promotional avenues:
- Replace your ‘on hold’ music with a short product plug. Check with your local phone system technician to see if this option is available on your phone system.
- If you have the information available, send your customers a birthday card and include a small token gift card to be used to purchase your products.
- Make customer contact regularly via newsletters, direct mail flyers or courtesy call. Analyze and anticipate your customer’s usage pattern and send them a reminder before they actually are in need of more products.
With a little thought, time and effort, you can increase your customer base inexpensively and strengthen your customer’s loyalty.
Future newsletters will include articles on testing a new campaign, the value and economy of targeted direct mail, how (and why) to measure results, the value of “lost leaders” in getting new customers, electronic marketing, websites and ecommerce.
We specialize in helping YOU be successful! Call today for a free consultation 540-291-4833
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